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XAU/USD & XAG/USD - Gold & Silver Traders Thread

  • #54,921
  • Nov 24, 2020 5:57am Nov 24, 2020 5:57am
#GOLD / Weekly, Daily & H4
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  • #54,922
  • Nov 24, 2020 6:14am Nov 24, 2020 6:14am
da boyz bought this dip but they can hang on through some heavy whether. i'll be back looking at this a day before the expiry. as i still see 1850 and 24.00 as the main focal point. i would welcome a second opinion on options numbers if someone knows this well, as i don't.
In tea leaves we trust!
  • #54,923
  • Nov 24, 2020 8:33am Nov 24, 2020 8:33am
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  • #54,924
  • Nov 24, 2020 9:30am Nov 24, 2020 9:30am
Quoting juhanimi
{image}
Target hit
  • #54,925
  • Nov 24, 2020 11:53am Nov 24, 2020 11:53am
M15

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  • #54,926
  • Nov 24, 2020 2:36pm Nov 24, 2020 2:36pm
Nice drop ...
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  • #54,927
  • Nov 25, 2020 3:52am Nov 25, 2020 3:52am
H1

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  • #54,928
  • Nov 25, 2020 6:24am Nov 25, 2020 6:24am
Quoting LouisSuguna
Gold rejected 80, and closed around 70. Could be the start of a dead-cat. Targets are still aimed below 50 and toward 20. However, as per usual, I could be wrong!
Targeting 200DMA @97. However, monthly technicals point toward 1750.
  • #54,929
  • Nov 25, 2020 6:47am Nov 25, 2020 6:47am
Hello all traders,

I have a Renko chart enabled and am using the Renko Live chart generator v3.2 attached below to make Renko charts and a Renko EA which works on those generated charts. I also have a VPS enabled with a ping of less than 10ms from server.

The issue I am facing is in the photo below. It shows very poor opening and closing of orders on the XAUUSD offline Renko chart. However, this doesn't happen on any other currency chart as I have also tried on EURUSD and the EA works correctly as it is supposed to. I have tried 60 pip and 100 pip Renko blocks to see if it was an issue with spreads but issue still remains. I have tried 2 different brokers to see if it was an issue with broker but issue remains on both brokers.

Since the chart, EA and VPS have no issue on EURUSD what can be the problem on XAUUSD?

EA only available in EX4 file and is not my property so I cannot share here.

Regards, TIA.
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  • #54,930
  • Nov 25, 2020 7:08am Nov 25, 2020 7:08am
Quoting Ehsaan1999
Hello all traders, I have a Renko chart enabled and am using the Renko Live chart generator v3.2 attached below to make Renko charts and a Renko EA which works on those generated charts. I also have a VPS enabled with a ping of less than 10ms from server. The issue I am facing is in the photo below. It shows very poor opening and closing of orders on the XAUUSD offline Renko chart. However, this doesn't happen on any other currency chart as I have also tried on EURUSD and the EA works correctly as it is supposed to. I have tried 60 pip and 100 pip...
The issue is probably the 4 digits price since most EAs are made to recognize only 1 or 2 digits before the decimals.
  • #54,931
  • Nov 25, 2020 7:10am Nov 25, 2020 7:10am
Here is the latest update from FPA. It doesn't look good for an upside in gold prices.

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  • #54,932
  • Edited 9:04am Nov 25, 2020 7:19am | Edited 9:04am
Indicator seems to be working fine, so issue must be with trade EA.

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  • #54,933
  • Nov 25, 2020 11:01am Nov 25, 2020 11:01am
Quoting juhanimi
Indicator seems to be working fine, so issue must be with trade EA. {image}
Is this in reply to my query?

If so, chart generator generates chart correctly but issue is in placing of orders. Since chart and EA work correctly on forex and not metals, issue is with either and I am trying to figure out which one. Hutch has pointed out digit error but since I have used EA, price of XAUUSD has remained in 1800s so I am a bit confused now.
  • #54,934
  • Nov 25, 2020 11:03am Nov 25, 2020 11:03am
Quoting Hutch
{quote} The issue is probably the 4 digits price since most EAs are made to recognize only 1 or 2 digits before the decimals.
I have said developer to look into this, if you can point out any other error please let me know. Highly appreciated.

Thankyou.
  • #54,935
  • Nov 25, 2020 2:16pm Nov 25, 2020 2:16pm
in direction to 1750 (fib 423,6) or to 1846.93 ( yesterday's PP)?
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dolce vita
  • #54,936
  • Nov 25, 2020 4:21pm Nov 25, 2020 4:21pm
i still think we have to wait until closer to options expiry. like watching from tomorrow and see if they have had enough accumulation.

i might have posted this already- some said they deliveries are through the roof. if correct then my view above could be well wrong.

we'll see.
In tea leaves we trust!
  • #54,937
  • Nov 25, 2020 4:41pm Nov 25, 2020 4:41pm
Quoting juhanimi
Indicator seems to be working fine, so issue must be with trade EA. {image}
Looks like you are using the slope direction line indicator. I prefer half trends because they give signals. Here is my Renko $1 brick size chart.
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  • #54,938
  • Nov 25, 2020 5:32pm Nov 25, 2020 5:32pm
Quoting Mcbeaners
i still think we have to wait until closer to options expiry. like watching from tomorrow and see if they have had enough accumulation. i might have posted this already- some said they deliveries are through the roof. if correct then my view above could be well wrong. we'll see.
can you explain this further boss?
  • #54,939
  • Nov 25, 2020 6:39pm Nov 25, 2020 6:39pm
Quoting LouisSuguna
{quote} can you explain this further boss?

Hi Louis,

option traders will seek to guide price into where they have sold the most options. if you don't know anything about options then have a read somewhere. assuming you do, there will be a strike price where most of the contracts have been sold or bought at and here that big options traders will drive the price to. most folk who know this will also look to trade to that price - it becomes of "fait accompli". i know enough to know this but not the certain to where to get the this target price. hence why i asked the thread if someone knew.

here is the link to discover for yourself

https://www.cmegroup.com/trading/met...ious/gold.html

looking at the calendar Nov 30th is first notice. i assume that's where most retail get out but welcome some input here.

https://www.cmegroup.com/trading/met...r_futures.html

hope that helps your journey.
In tea leaves we trust!
  • #54,940
  • Nov 25, 2020 10:52pm Nov 25, 2020 10:52pm
Quoting Hutch
{quote} Looks like you are using the slope direction line indicator. I prefer half trends because they give signals. Here is my Renko $1 brick size chart. {image}
It`s a os_gaussian_ma_2.02 from Mladen. I assume you have NRP half-trend, it looks good, maybe one more longer, maybe 24, just a thought.
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